Sei Investments Co. Lowers Holdings in Hello Group Inc. (NASDAQ:MOMO)

Sei Investments Co. lowered its position in shares of Hello Group Inc. (NASDAQ:MOMO) by 10.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 204,036 shares of the information services provider’s stock after selling 24,390 shares during the period. Sei Investments Co.’s holdings in Hello Group were worth $1,573,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. purchased a new position in Hello Group during the 4th quarter valued at about $8,616,000. Public Employees Retirement System of Ohio bought a new position in shares of Hello Group during the third quarter valued at approximately $1,013,000. Harbour Capital Advisors LLC increased its holdings in Hello Group by 86.9% during the fourth quarter. Harbour Capital Advisors LLC now owns 90,085 shares of the information services provider’s stock valued at $647,000 after buying an additional 41,875 shares during the period. American Century Companies Inc. raised its stake in Hello Group by 4.7% in the fourth quarter. American Century Companies Inc. now owns 912,611 shares of the information services provider’s stock worth $7,036,000 after buying an additional 40,620 shares in the last quarter. Finally, XTX Topco Ltd lifted its holdings in Hello Group by 95.1% during the third quarter. XTX Topco Ltd now owns 52,720 shares of the information services provider’s stock worth $401,000 after buying an additional 25,700 shares during the period. 50.96% of the stock is currently owned by institutional investors.

Hello Group Price Performance

Hello Group stock opened at $5.84 on Monday. Hello Group Inc. has a 1-year low of $4.79 and a 1-year high of $8.38. The business has a fifty day moving average price of $7.20 and a 200-day moving average price of $7.13. The stock has a market capitalization of $846.21 million, a price-to-earnings ratio of 6.02, a PEG ratio of 2.07 and a beta of 0.33.

Hello Group Cuts Dividend

The firm also recently declared an annual dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Friday, April 11th will be issued a $0.30 dividend. This represents a yield of 4.18%. The ex-dividend date of this dividend is Friday, April 11th.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MOMO. Citigroup lifted their price target on Hello Group from $5.90 to $7.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Benchmark reiterated a “buy” rating and issued a $13.00 target price on shares of Hello Group in a research note on Thursday, March 13th. Finally, StockNews.com lowered shares of Hello Group from a “buy” rating to a “hold” rating in a research report on Wednesday, April 2nd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $8.25.

Hello Group Profile

Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. It operates in three segments: Momo, Tantan, and QOOL. The company offers Momo, a mobile application that connects people and facilitates social interactions based on location, interests, and various online recreational activities, including live talent shows, short videos, social games, as well as other video- and audio-based interactive experiences, such as online parties, mobile karaoke and user participated reality shows; Tantan, a social and dating application; and other applications under the Hertz, Soulchill, Duidui, and Tietie names.